Braemar Hotels reduces quorum requirement for annual meetings to one-third

Braemar Hotels & Resorts Inc.

Bylaw Amendment adopted Feb 27 reduces quorum for annual meetings to one-third of votes entitled to be cast.
Change addresses increasing retail stockholder base and broker policies limiting discretionary votes.
Effective immediately; applies only to annual meetings called by the Board.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Braemar Hotels & Resorts Inc.: Reduced quorum required for matters proposed by the Board at annual meetings from a majority to at least one-third of votes entitled to be cast (effective 2024-02-27).

Change: bylaw amendment
Effective: 2024-02-27

Exact text from the filing

On February 27, 2024, Braemar Hotels and Resorts Inc. (the “Company”), by resolution of its board of directors (the “Board”), adopted Amendment No. 1 to the Fifth Amended and Restated Bylaws of the Company (the “Bylaw Amendment”) for purposes of reducing the quorum required for any matter proposed by the Board at an annual meeting of stockholders called by the Board from a majority to at least one-third of all votes entitled to be cast at such meeting, as permitted under the Maryland General Corporation Law.

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Source: SEC EDGAR

accession 0001574085-24-000015

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